Wood Partners, based in Atlanta, has secured a $42.65 million construction loan for an apartment complex whose construction got underway recently. The new project, Alta Delray Station, is located on a 12.3 acre site at 1720 Depot Ave. The plans call for 284 garden-style apartments, of which 20 percent are dedicated to workforce housing, a 7,500-square-foot clubhouse and 596 parking spaces. The company bought the land for $6.25 million from Depot Industrial Center. The financing was provided with a mortgage from NXT Capital.
